United Overseas Bank

Reflecting its commitment to investing in technology for future growth, last year United Overseas Bank (UOB) put 18.2% of the group’s total operating outlay into IT. The implementation of a bank-wide customer relationship management initiative has delivered a customer-centric infrastructure that has helped the bank to achieve revenue growth through cross-selling, development of the branch network, call centres and internet banking and a deeper relationship with customers across the product and services base, thus increasing customer retention. UOB is a long-term player whose stable leadership, strong management team and intimate understanding of the business and region make it well-positioned to seize growth opportunities domestically and regionally. Last year’s results placed the bank at the top of the local league in terms of net earnings. “UOB’s regional expansion took a significant step forward this year with our purchase of an 81% interest in the Bank of Asia, Thailand and a 23% interest in PT Bank Buana, Indonesia,” says CEO Wee Cho Yaw. “At home in Singapore, banking liberalisation will mean keener competition in the domestic market. We will continue to improve on our competitiveness by introducing more innovative products and enhancing our service quality. With our better knowledge of the local market, we are confident that we will continue to grow our domestic business.”

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